US Debt Can Travel From the Earth to the Sun Back a Stunning 83 Times! - First Signs of Hyperinflation Have Arrived

By JS Kim * GoldSeek.com

original artwork above courtesy of @williambanzai7

The first signs of hyperinflation have arrived. As I will explain later in this article, it began last week with the meeting of POTUS Obama and his most supportive lobby, the banking industry. Just a few months into Obama’s first term as US President in early 2009, I penned an article, “8 Reasons Why the Obama Administration Will Not Solve this Crisis by the End of 2009.” Although the title of that article title sounds absurd today, idol worship was so high of Obama immediately following his election not only in the US but all across Europe, that media commentators across the world were implying, and sometimes matter-of-factly stating, that Obama would be well on his way to solving the global monetary crisis by the end of his first year as POTUS. In direct opposition to the media love affair with Obama, shortly after his election in 2008, I objectively studied Obama’s support of a massive bailout plan for banks in his first months of service and his freshly minted appointments of Timothy Geithner, William Daley, William Donaldson, Robert Rubin, Roger Ferguson and Paul Volcker to his economic advisory board and key cabinet positions. Based upon my findings, I concluded that beyond a shadow of a doubt, banking cronyism would expand, multiply, and go unprosecuted under Obama’s watch.

The Obama administration has given a lot of lip service with zero follow-through to prosecution of criminal banking behavior, the most recent being AG Eric Holder’s following very empty promise: “Let me be very, very, very clear…if we find a bank or a financial institution that has done something wrong…those cases will be brought” (emphasis not only mine but Holder’s as well!) Unfortunately since that time, though numerous indisputable cases of banking criminal behavior have been uncovered and presented to Holder, Holder has shown no spine or willingness to enforce his prior promise. As a consequence of the refusal of the top attorney in the United States to enforce the rule of law and to prosecute industry-wide criminal banking activity, the first signs of hyperinflation have arrived.

The real national debt, despite having been falsely frozen at the falsely advertised figure of $16.699 trillion for more than 90 consecutive days for no other reason than it has reached the designated limit, clocks in at a whopping $220 trillion if you include all unfunded, off-balance liabilities such as Medicare and Social Security (Source: Economist Laurence Kotlikoff).

original artwork above courtesy of @williambanzai7

Furthermore, this figure of true national debt does not even feel obscene in relative terms once you consider that the Alan Greenspan/Robert Rubin/Bill Clinton administration let the global derivative market run unregulated in the name of multi-billion dollar short-term profits to bankers and irresponsibly explode into the unresolvable $1,200,000,000,000,000 to $1,500,000,000,000,000 market that exists today. Let it be known for the record that CFTC Chairman Brooksley Born urgently lobbied for strict regulations of the global banking derivatives markets and warned Summers and Greenspan that letting bankers exploit derivatives for profit at the expense of sound banking principles would create the very crisis we are suffering today. What was Born’s reward for such a prescient and wise prediction? A vile cussing out by Larry Summers and forced resignation by Summers and Greenspan. Yes, this is the same Larry Summers that President Obama has adamantly defended and is Obama’s first choice to supplant Ben Bernanke as the next chairman of the Rothschilds Private Bank.

Neither the government lies about the the unchanging nature of the “official” national debt for over 90 consecutive days now nor the government lies about the true scope of the national debt is stunning. What is stunning, however, is just how gigantic is the US National Debt when you start putting the figure in relatable terms. No one really understands how incredibly large is a sum of $1 billion, let alone a trillion or a couple hundred trillion, so it helps to illustrate the absurdity of this unresolvable debt by painting this debt in a different light. Let’s assume for argument’s sake that the estimate of $220 trillion of real US national debt is too aggressive (although Kotlikoff insists this figure is accurate) and counter estimates of $100 trillion are too conservative. Let’s split the difference and say the true US national debt is $160 trillion dollars. If one were to lay $1 bills side by side, a current US National Debt of $160 trillion would reach from the earth to the moon 239,000 miles away not 100 times, not 500 times, not 1000 times, not even 10,000 times, but 32,358 TIMES AND BACK. Our national debt would travel to the sun 93 million miles away AND BACK, not just once, not just twice, not 10 times, not even an unfathomable 50 times, but EIGHTY-THREE complete round trips! Explained a third way, if you were driving the fastest commercial car in the world (as concluded by Top Gear test drives), the Pagani Huayra, continuously at its top speed of 372 kms/hour and never, for not even one-second, let up on this top speed and never stopped to change the tires, it would take you until the year 9643 (or more than 7,629 YEARS) before you would pass the last dollar bill of US national debt laid out side by side in 1$ bills. Finally, if you were an alien capable of flying your UFO at the speed of light (670.6 MILLION miles per hour), you would not pass the last dollar of US debt until 23 hours, 1 minute, and 14 seconds later (if the entire debt were laid out side by side in $1 bills)! These FACTS should alert any reasonable logical man, woman and child that massive inflation is the fate of the USD in future years.

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